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Sunday, 16 June 05:45 (GMT -05:00)



Foreign exchange market

Brexit Won't Affect British Pound Just Yet, NordFX Experts Say


The balance of powers in the international currency market (also known as forex) influences many contemporary tendencies in the entire world. At the same time, traders and investors rely on accurate forex forecasts to earn money. That is why we keep on publishing those weekly consensus forecasts, courtesy of NordFX.
 
In particular, the local expert team has come up with another forecast based on the time-tested approach, which boils down to studying tons of related sources, expert opinions, as well as predictions made based on technical and graphical analysis.
 
EUR/USD.
 
When estimating the possible directions in which EUR/USD can move, when should definitely take into account several major events planned for the trading week, including macroeconomic reports, public speeches made by politicians and economists. On Tuesday, the Fed's Chairman is to hold a speech in the U.S. Congress. If the Fed isn't going to raise the interest rates, the pressure on the U.S. Dollar may increase. If that's the case, the EUR/USd exchange rate may increase all the way up to the pivot point of the mid-term sloping channel at 1.1400, with a possible move further up to 1.1500. However, this scenario is backed by 30% of the experts. The remaining 70% have the opposite point of view. They assume that a weaker Eurozone economy coupled with the chaos around the Brexit will eventually give the U.S. Dollar the uper hand, which will trigger a move down to 1.1215-1.1240.
 
GBP/USD
 
In this case, the key events to pay attention to are Theresa May's speech on Monday and Tuesday's Brexit voting in the British parliament. The parliament may reject the prime minister's offer once again, and after that Theresa May will have to make a tough decision. In particular, she may try to delay the Brexit or agree to quit the EU without a major agreement. Judging by the market sentiment, most investors are inclined to think that the British prime minister will eventually manage to win some time before quitting the EU for good. Anyways, 40% of the experts belive that the British Pound will succeed in standing the ground around 1.3000. Another 35% of them think that the pound will make it all the way up to 1.3200. The remaining 25% think the currency pair may go all the way down to 1.2770-1.2830. At the same time, it's interesting to note that a more expensive crude oil may back the pound's rally since crude oil and GBP are directly correlated and move pretty synchronously against USD.
 
USD/JPY
 
At the end of the past trading week, the Japanese Yen froze while waiting for move stimuli to push it to another exchange rate against the U.S. Dollar. Recently, the currency pair has been driven mostly by the worsening macroeconomic stats in the USA coupled with a possible recession in Germany, the trade war between Beijing and Washington as well as the biggest slowdown in the Chinese GDP growth over the last three decades. All of that altogether is the reason for growing pessimism among the international investors who are trying to estimate the near-term prospects fo the global economy in general and the Japanese economy in particular.
 

График Доллар Иена

 

At first sight, it seems that the mentioned factors have been playing against the U.S. Dollar and therefore should play in favor of the Japanese Yen as one of the safe-haven assets out there. At the same time, market players are interested in riskier assets with higher profitability. According to EPFR, since the beginning of 2019, international investors have invested some 16 billion dollars in ETFs related to emerging economies. Given the specifics of the current situation, around 70% of the experts have voted for a further downtrend fo the Japanese Yen, which implies a rally of the USDJPY up to 111.50, with a chance to get another 100 points up. It's interesting to note, that most D1 indicators back this scenario. The remaining 30% stick to the opposite idea - a move down to 109.60-110.00 for USDJPY.
 
Cryptocurrencies
 
Since the long-awaited launch of JMP Coin by J.P.Morgan, the international community has been waiting for similar moves from Facebook and Amazon, as well as a range of other major players in the international market. However, those companies still haven't disclosed an information about the their own coins. At the same time, the SEC and the CFTC, as some of the major financial regulators out there, will have to make a lot of decisions, including unpopular ones, to clean up the mess in the entire market. When it comes to the trends for the week, the experts are divided into several groups again. 40% of them anticipate a Bitcoin rally up to $4,200-4,400, with a further jump up to $4,485, the highest level since November 2018. BTC/USD moving inside the 3,900-4,100 range is the most likely scenario for 35% of the experts. The remaining 25% of the experts count on Bitcoin getting back into the 3,500-3,800 area.

 

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Masterforex-V Names 135 Most Popular Forex Brokers 2019

When trying to increase the amount of new clients, many brokers start massive ad campaigns online. Most of the time, you can see or hear those brokers call themselves the leading players in the industry, the best of the best, which is obviously not true because all of them cannot be as good as they claim to be. This actually makes it really difficult for the common trader or investor to make up their mind when choosing the next broker to go with.

Publication date: 12 June 08:22 PM

Central Banks Cut Down On Their Dollar Reserves

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Publication date: 31 May 12:59 PM

Forex Forecast and Cryptocurrencies Forecast for May 27 - 31, 2019

Complaints and sometimes even moans have been heard everywhere in the last months about the low volatility of this pair. The same is true about last week, until the second half of Thursday, the maximum range of its fluctuations did not exceed 45 points.

Publication date: 27 May 04:51 AM

Forex and Cryptocurrency Forecast by NordFX. May 20-24, 2019

Roman Boutko, an analyst for NordFX, has come up with another consensus forecast for the forex and cryptocurrency markets for the forthcoming trading week starting on May 20, 2019.


Publication date: 20 May 03:50 AM

U.S. Sanction Trap For Russian Rouble

It's not a secret that the amount of sanctions against Russia has been growing over the last few years. At the same time, experts are losing faith in the stability of the Russian Rouble. Washington is discussing more and more variants to impose even more sanctions on Russia to undermine its economy and national currency.

Publication date: 18 May 03:25 PM

Facebook articles contest from FortFS

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Publication date: 18 May 12:24 AM

BTC Market Will Set New Highs In 2020

Tom Lee, Chief Analyst for Fundstrat Global Advisors, has recently shared his optimistic view on the future of Bitcoin (BTC). In early May, he said that the BTC exchange rate is undervalued and, given some fundamental factors, it should be somewhere around 14K dollars per coin. At this point, he thinks that the current all-time highs may well be renewed this year. This means BTC prices above $20K per coin and market cap well over 830 billion dollars within the next 20 months.

 

Publication date: 15 May 10:05 AM

U.S. Unemployment Rate Drops To Nearly 50-Year Low

The U.S. Department of Labor has released another unemployment reports. For the first time in over 49 years, the unemployment rate dropped all the way down to 3,9%. For the most part, this has to do with a considerable decline in the economically active population.

Publication date: 13 May 11:22 AM

Six main components of Alpha Bonus from FortFS

From 06 of May till 07 of June 2019 become the owner of a unique artifact called Alpha Bonus and subdue the financial element!


Publication date: 13 May 01:40 AM

Bitcoin Reaches 5-Month High

The cryptocurrency has been maintaining a stable bullish trend. over the last few days, the market cap has exceeded 185 billion dollars. According to CoinMarketCap, the market cap used to be 179 billion dollars on Tuesday. Over the last few days, the cost of all the cryptocurrencies circulating in the global market has grow considerably. 

 
Publication date: 27 April 10:24 AM